---
schema_version: "secwatch.filing_event.v1"
accession: "0001880613-25-000101"
form_type: "8-K"
ticker: "DRCT"
cik: "0001880613"
company_name: "Direct Digital Holdings, Inc."
filed_at: "2025-09-12T23:59:59+00:00"
generated_at: "2026-05-17T06:46:54.314558+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Direct Digital Holdings obtains $3.8M term loan to repay revolver; lender waives defaults

## Summary
- DDH LLC borrowed $3.8M (incl. $93K interest reserve) from Lafayette Square, maturing Oct. 30, 2025.
- Proceeds used to repay and terminate the $5M East West Bank revolving credit facility.
- Existing defaults on interest payments for July and Aug 2025 waived by lender.
- Total term loans outstanding now $13.2M; $37,500 amendment fee and $616,795 accrued interest due Sep. 30, 2025.

## SEC filing metadata
- accession: 0001880613-25-000101
- form_type: 8-K
- ticker: DRCT
- cik: 0001880613
- company_name: Direct Digital Holdings, Inc.
- filed_at: 2025-09-12T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1880613/000188061325000101/0001880613-25-000101-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1880613/000188061325000101/drct-20250908.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001880613-25-000101
- JSON: https://secwatch.observer/filing/0001880613-25-000101.json
- Plain text: https://secwatch.observer/filing/0001880613-25-000101.txt

## Key facts
- Debt Financings
  Direct Digital Holdings, Inc. amended credit facility of $0 (repayment and termination of revolving credit; no termination penalties) with East West Bank maturing Terminated.
  - Instrument: credit facility
  - Principal: $0 (repayment and termination of revolving credit; no termination penalties)
  - Counterparty: East West Bank
  - Maturity: Terminated
  - Event: amendment
  source text: Additionally, LS and the Credit Parties agreed to use the proceeds of the Eighth Amendment Term Loan to repay in full and terminate the revolving credit notes under the Credit Agreement (the “ Credit Agreement ”), dated July 7, 2023, by and among East West Bank (“ EWB ”), as lender, and DDH LLC, the Company, Huddled Masses LLC, Colossus Media, LLC and Orange142, LLC, as borrowers.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1880613/000188061325000101/0001880613-25-000101-index.htm
- Debt Financings
  Direct Digital Holdings, Inc. incurred term loan of $3.8 million with Lafayette Square Loan Servicing, LLC at Not explicitly stated; interest reserve of $93,000 referenced maturing October 30, 2025.
  - Instrument: term loan
  - Principal: $3.8 million
  - Counterparty: Lafayette Square Loan Servicing, LLC
  - Rate: Not explicitly stated; interest reserve of $93,000 referenced
  - Maturity: October 30, 2025
  - Event: incurrence
  source text: On September 8, 2025, Direct Digital Holdings, LLC (“ DDH LLC ”), as borrower, entered into the Eighth Amendment (the “ Eighth Amendment ”) to the Term Loan and Security Agreement dated December 3, 2021 (the “ Term Loan Facility ”) with Direct Digital Holdings, Inc. (the “ Company ”), Colossus Media, LLC, Huddled Masses LLC and Orange142, LLC, as guarantors (such guarantors together with DDH LLC, the “ Credit Parties ”), and Lafayette Square Loan Servicing, LLC (“ LS ”), as administrative agent, and Lafayette Square USA, Inc. (“ Lafayette ”) and the other lenders from time to time party thereto. Under the terms of the Eighth Amendment, among other changes, DDH LLC requested and LS agreed to make a term loan in the principal amount equal to $3.8 million (the “ Eighth Amendment Term Loan ”) which includes an interest reserve under the Eighth Amendment in an amount equal to $93,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1880613/000188061325000101/0001880613-25-000101-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.